2014 Idaho Statutes
Title 63 - REVENUE AND TAXATION
Chapter 30 - INCOME TAX
Section 63-3022H - DEDUCTION OF CAPITAL GAINS.
(2) The deduction provided in this section is limited to the amount of the capital gain net income from all property included in taxable income. Gains treated as ordinary income by the Internal Revenue Code do not qualify for the deduction allowed in this section. The deduction otherwise allowable under this section shall be reduced by the amount of any federal capital gains deduction relating to such property, but not below zero.
(3) Property held by an estate, trust, S corporation, partnership, limited liability company or an individual is "qualified property" under this section if the property had an Idaho situs at the time of sale and is:
(4) As used in this section "revenue-producing enterprise" means:
(5) As used in this section the term "real property" means land and other tangible property permanently upon or affixed to the land.
History:
[63-3022H, added 1987, ch. 324, sec. 1, p. 680; am. 1994, ch. 39, sec. 2, p. 62; am. 1995, ch. 83, sec. 3, p. 244; am. 1995, ch. 111, sec. 15, p. 359; am. 1996, ch. 41, sec. 2, p. 111; am. 1997, ch. 56, sec. 1, p. 94; am. 1998, ch. 414, sec. 1, p. 1306; am. 2001, ch. 321, sec. 1, p. 1136; am. 2001, ch. 323, sec. 1, p. 1138; am. 2002, ch. 35, sec. 2, p. 68; am. 2005, ch. 208, sec. 1, p. 624; am. 2008, ch. 314, sec. 1, p. 873; am. 2010, ch. 5, sec. 1, p. 6.]
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